These are some of the top analyst upgrades, downgrades and initiations seen in Wall St. research calls this Wednesday. With this being the week of Christmas, analyst upgrades and downgrades are likely going to be very light until after January 2.

Credit Suisse commented that Oracle Corp. (NASDAQ: ORCL) could make the software as a service (SaaS) market come with higher multiples. Those noted positively were RNOW and TLEO, and others were CNQR, CSOD, CTCT, JIVE, MKTG, RP, SNCR and ULTI.

Most investors and traders were out on Monday, but here are some of the standout calls that were still listed with upgrades and downgrades on Monday:

Facebook Inc. (NASDAQ: FB) reiterated Buy but the price target was raised to $33 from $25 at Needham.

General Motor Co. (NYSE: GM) started as Buy with $35 price target at Goldman Sachs.